$129!!! It better come with a +5hp sticker for that much.
I just finished a successful test run with no smoke on downhill deceleration. I pulled the PCV from the valve cover and kept it connected to the carb and then put my extra breather on the open valve cover port. This gave me the same air mixture as prior but removed the possibility of oil being sucked through the PCV.
So, I believe this identifies the PCV as the culprit here.